Keybank National Association OH decreased its holdings in Magellan Midstream Partners, L.P. (NYSE:MMP) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,996 shares of the pipeline company’s stock after selling 250 shares during the period. Keybank National Association OH’s holdings in Magellan Midstream Partners were worth $6,464,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the business. Semmax Financial Advisors Inc. lifted its position in Magellan Midstream Partners by 115.6% in the first quarter. Semmax Financial Advisors Inc. now owns 10,195 shares of the pipeline company’s stock valued at $618,000 after acquiring an additional 5,466 shares during the last quarter. RiverGlades Family Offices LLC purchased a new stake in shares of Magellan Midstream Partners in the first quarter valued at about $631,000. Bogart Wealth LLC raised its holdings in shares of Magellan Midstream Partners by 13.0% in the second quarter. Bogart Wealth LLC now owns 38,852 shares of the pipeline company’s stock valued at $2,486,000 after buying an additional 4,467 shares during the last quarter. Moors & Cabot Inc. raised its holdings in shares of Magellan Midstream Partners by 7.5% in the second quarter. Moors & Cabot Inc. now owns 85,105 shares of the pipeline company’s stock valued at $5,447,000 after buying an additional 5,974 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Magellan Midstream Partners by 103.7% in the first quarter. CWM LLC now owns 556 shares of the pipeline company’s stock valued at $34,000 after buying an additional 283 shares during the last quarter. Institutional investors and hedge funds own 71.00% of the company’s stock.

A number of research analysts have recently issued reports on MMP shares. Raymond James boosted their price target on shares of Magellan Midstream Partners from $69.00 to $71.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Johnson Rice began coverage on shares of Magellan Midstream Partners in a research report on Thursday, May 30th. They set an “accumulate” rating and a $71.00 target price on the stock. Stifel Nicolaus upped their target price on shares of Magellan Midstream Partners from $62.00 to $68.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. ValuEngine upgraded shares of Magellan Midstream Partners from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Bank of America upped their target price on shares of Magellan Midstream Partners from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. Magellan Midstream Partners presently has an average rating of “Hold” and an average target price of $69.00.

Shares of MMP traded up $0.28 on Thursday, hitting $65.50. 9,599 shares of the stock traded hands, compared to its average volume of 852,171. The company has a quick ratio of 0.38, a current ratio of 0.66 and a debt-to-equity ratio of 1.73. The stock has a market cap of $14.87 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 2.59 and a beta of 0.74. The firm has a 50 day moving average price of $65.30. Magellan Midstream Partners, L.P. has a 1 year low of $54.25 and a 1 year high of $71.85.

Magellan Midstream Partners (NYSE:MMP) last posted its quarterly earnings results on Thursday, August 1st. The pipeline company reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.13. The company had revenue of $701.70 million for the quarter, compared to the consensus estimate of $658.67 million. Magellan Midstream Partners had a net margin of 48.33% and a return on equity of 38.48%. Magellan Midstream Partners’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 earnings per share. On average, sell-side analysts expect that Magellan Midstream Partners, L.P. will post 4.18 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were paid a $1.013 dividend. This represents a $4.05 dividend on an annualized basis and a dividend yield of 6.19%. The ex-dividend date of this dividend was Tuesday, August 6th. This is an increase from Magellan Midstream Partners’s previous quarterly dividend of $0.92. Magellan Midstream Partners’s dividend payout ratio (DPR) is currently 95.29%.

In related news, insider Jeff R. Selvidge sold 4,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $63.64, for a total transaction of $254,560.00. Following the completion of the sale, the insider now directly owns 23,397 shares of the company’s stock, valued at approximately $1,488,985.08. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

About Magellan Midstream Partners

Magellan Midstream Partners LP engages in the transportation, storage and distribution of petroleum products, such as crude oil. It operates through the following segments: Refined Products, Crude Oil and Marine Storage. The Refined Products segment consists of common carrier refined products pipeline system, independent terminals, and its ammonia pipeline system.

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Institutional Ownership by Quarter for Magellan Midstream Partners (NYSE:MMP)

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